With commission-free trades, fractional share investing, and an easy-to-use app, Robinhood has attracted over 13 million users. And from ETFs to cryptocurrencies, there are a lot of different investments to make on the platform.
But if you’re a cannabis investor, you’ve noticed that many cannabis stocks you’re interested in buying aren’t available on Robinhood.
The Reason You Can’t Buy Certain Cannabis Stocks on Robinhood
On Robinhood, it’s true that you can buy a handful of marijuana companies like Aurora Cannabis Inc. (NYSE: ACB), Hexo Corp. (NYSE: HEXO), Organigram Holdings Inc. (Nasdaq: OGI), and Sundial Growers Inc. (Nasdaq: SNDL).
The reason why you can buy all of those is that they are all Canadian-based companies.
Because cannabis is legal in Canada, those companies are following the law within their country, and they’ve been able to list their shares on the Nasdaq or NYSE.
In comparison, cannabis companies in the United States are following state laws, but cannabis is still illegal under federal law. Being illegal under federal law, the Nasdaq and NYSE did not want to take the risk of listing American companies on their respective exchanges.
So American companies have to list on over-the-counter markets (OTCMKTs), and Robinhood does not support the buying or selling of OTC cannabis stocks on its platform.
Now, some people want to buy the best marijuana companies but only have a Robinhood account and feel like it’s too much work to open another brokerage account, or they just want one brokerage account because they want to keep all of their investments in one place.
Or they just want to wait until cannabis is federally illegal and companies can start listing on the Nasdaq and NYSE, which Robinhood will then make available to its users.
Here’s the thing…
Setting up a new online brokerage account that will open up a whole new world to you of buying and selling cannabis stocks can take less than 20 minutes.
In fact, we have a free guide on how to get started, with the websites and customer service numbers for different online brokerages, right here.
It’s also understandable that you may want all of your investments to be listed on one brokerage service, but it’s really not extra work to have a second brokerage account. Whenever you log on to another brokerage account, the cannabis investments you make will be just as easy to find as your investments are in your Robinhood account.
But if those first two reasons don’t apply to you and you’re just waiting for more marijuana companies to trade on the Nasdaq or NYSE so that you can eventually be able to buy them on Robinhood, don’t make that mistake.
Things are moving fast, and after the Senate race in Georgia, federal cannabis legalization is imminent.
Now, even before that happened, there was one cannabis stock that the Executive Director of the National Institute for Cannabis Investors (NICI), Don Yocham, has been pounding the table about.
Since recommending it those in our NICI Membership service in July 2020, as of this writing, it’s already up over 300%. But don’t feel like you’ve missed out; currently trading at $6.25, Don believes that, by the end of 2021, it could trade for $40 per share.
That’s a 540% gain, and that estimate may end up being too conservative with how fast the federal prohibition of marijuana could come to an end.
Make sure you have an account that can trade OTC stocks.
Because this is the best cannabis stock to buy in 2021…
The Best Cannabis Stock to Buy in 2021: Jushi Holdings Inc.
CEO: Jim Cacioppo
Stock Ticker: JUSHF
Don has gotten to know the team at Jushi Holdings Inc. (OTC: JUSHF) very well over the last two years, and he believes JUSHF will trade for $40 by the end of the year.
The leaders have skin in the game and know how to use the money they’ve raised wisely.
When the company was founded in 2018 and raised $220 million, the founders went “all in” on the company’s success by putting in $45 million of their own money. Jushi has also been extremely disciplined with how it invests that money.
It sets up operations in states with limited licenses, which gives it a competitive advantage; if you’re one of the only games in town, you get the biggest slice of the pie.
For example, Don was in attendance for the grand opening of Jushi’s newest dispensary in Santa Barbara, California.
In a city of 90,000 where the median income is as high as $87,000 and more than seven million tourists spend close to $2 billion (before COVID-19), there are only three dispensaries allowed to meet these folks’ demand for cannabis.
On October 14, 2020, Jushi became one of them.
To give you an even better idea of what’s ahead for the company, Don sat down with Jushi’s President, Erich Mauff, and opened the floor to NICI members to ask Erich their questions directly.
You have free, direct access to that exclusive video meeting right here.
After watching it, you’ll see why Don thinks this is a $6 stock now but will be a $40 stock in no time at all.
8 responses to “Why the Best Cannabis Stocks Aren’t on Robinhood (And What to Do About It)”
January 15 2021